The world is moving towards decentralization of the internet via the blockchain. Several startups exist that provide one form of service or the other in the decentralized ecosystem. Poseidon Network, one of such startups is focusing on decentralizing data and bandwidth sharing among internet users and has launched an IEO through ABCC Exchange today, 13 May 2019.

How it works

Just like miners who share spare space and bandwidth for mining cryptocurrencies and get paid for it, other internet users can do the same and Poseidon Network is out to make this possible. According to the company, it is providing an alternative data sharing method that is much faster and cheaper than the existing structures for such sharing by using the Internet of Things (IoT) devices.

Users of the network will be rewarded with two types of tokens, QQQ tokens, and PSD token. The first will be used as a utility token on the network for miner reward and users who pay using this token are entitled to discounts. The second token PSD, on the other hand, is real security tokens distributed to users. Holders of PSDs have certain rights on the network such as contributing to making decisions on the developments on the network through voting and share in the profits of the network.

About Poseidon Network

Poseidon Network, under CEO Light Lin is building a decentralized sharing platform for unused internet bandwidth, storage, and processing power in exchange for cryptocurrencies. It provides a decentralized CDN (Content Distribution Network) service which is incentivized by using the QQQ Tokens. It is both faster and cheaper than existing cloud services provided by AWS (Amazon Web Services) and GCP (Google Cloud Platform).

Poseidon now has major clients in the gaming industry in Taiwan who use the company’s bandwidth sharing service to cut server cost. The company is also part of the Tron ecosystem which is focused on decentralization of the internet. The Co-Founder of Longhash and Co-founder/COO of Aelf is its advisors and it has signed an MoU with Harmony and Aelf for collaboration.

The IEO

Poseidon Network is supported by ABCC Exchange for its IEOwhich is to be launched on 13th May. The IEO has a total of 250 million QQQ for sale, a total of 1.19% of the token’s total supply of 21 billion. Only USDT is accepted for the purchase of tokens at 0.0002 USDT per token on a first come first serve basis and will last till 17 May 2019. Users from the United States cannot participate in the IEO due to regulatory reasons.

With the Poseidon internet users with extra storage space and bandwidth can now earn money sharing their space and the QQQ and PSD tokens will be used in the decentralized data sharing economy.

The world is moving towards decentralization of the internet via the blockchain. Several startups exist that provide one form of service or the other in the decentralized ecosystem. Poseidon Network, one of such startups is focusing on decentralizing data and bandwidth sharing among internet users and has launched an IEO through ABCC Exchange today, 13 May 2019.

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the author and is subject to market condition.
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Passionate about Blockchain and has been researching and writing about the Blockchain technology for over a year now. Also holds expertise in digital marketing. follow me on twitter at @sagar2803 or reach out to him at sagar[at]coingape.com

Passionate about Blockchain and has been researching and writing about the Blockchain technology for over a year now. Also holds expertise in digital marketing. follow me on twitter at @sagar2803 or reach out to him at sagar[at]coingape.com